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In a challenging year for retail stocks, Sportsmans Warehouse (SPWH) has touched a new 52-week low, with shares plummeting to $2. The outdoor sporting goods retailer has faced a tumultuous market, reflecting a significant downturn from its previous year's performance. Over the past year, Sportsmans Warehouse has seen its stock value erode by an alarming 67%, a stark contrast to the more robust figures it boasted in the prior period. Investors are closely monitoring the company's strategies to navigate through the headwinds that have battered the retail sector and whether it can rebound from this low point.
In other recent news, Sportsman's Warehouse (NASDAQ:SPWH) reported a dip in first-quarter fiscal year 2024 earnings, with a decline in same-store sales of 13.5%. The company's revenue stood at $244.2 million, falling short of the expected $263.9 million. Despite these figures, Sportsman's Warehouse maintains its full-year net sales forecast between $1.15 billion and $1.23 billion. Analysts at Craig-Hallum, Lake Street Capital Markets, and Roth/MKM have adjusted their outlook for the company, reducing their price target but maintaining a Buy rating. The company is taking strategic steps to mitigate these challenges, including focusing on promotional activities and identifying additional cost savings of between $5 million to $7 million. Sportsman's Warehouse is also planning a strategic reset, which involves improving store layouts and reducing inventory in apparel and footwear by 40%. These recent developments are part of the company's broader plan to improve operations and inventory management.
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